Credit Card News

Commenting on the launch of the Halifax Purchase Card, Rob Kenley, head of credit cards at price comparison site moneysupermarket.com, said: “Offering shoppers 0 per cent for 15 months, this card easily beats any other on the market for new purchases.

This month sees the fifth anniversary of Nectar, the UK’s leading loyalty card and the second anniversary of the partnership between Nectar and American Express.

Retailer advice guide provides top tips to businesses on how to protect themselves and their customers from fraud.

Cashback is making a comeback as credit card firms battle for customer loyalty with one in 10 cards now offering schemes. But new research from MoneyExpert.com shows that the average rate of cashback offered is just 0.72%.

Commenting on the launch of the Mastercard PayPass system and the Barclaycard OnePulse card, Rob Kenley, head of credit cards at price comparison website moneysupermarket.com, said: “These launches signal a new era for cards and payment technology.

Ten million UK-issued payment cards have now been registered with MasterCard SecureCode and Verified by Visa services – making these cards more secure when shopping online, according to APACS, the UK payments association.

Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “The standard purchase rate of 9.9% APR made the BMW credit card from American Express a very attractive proposition, but with effect from 28 August, the rate has been hiked by seven per cent to 16.9% APR.

Nationwide Building Society welcomes the warning by Which? about the hidden cost of adverse order of payments on credit cards.

Commenting on Abbey launching its own credit card with a market-leading supermarket offer, Robert Kenley, head of credit cards at moneysupermarket.com, said: "Abbey's £50 gift to its new and most existing credit card holders should attract a flurry of applications".

From 3 September until the end of January 2008, Abbey credit card customers will benefit from five per cent cashback on the first £1,000 of purchases from major supermarkets bought with an Abbey credit card.

Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “Sainsbury’s Bank announced yesterday that it would be increasing its 0% purchase offer from 10 months to 12 months.

Sainsbury’s Bank today announces that it has increased its offer of 0% APR on purchases on its Standard and Platinum credit cards from 10 months to 12 months.

Halifax is launching a new credit card exclusively for students. The new card, with a competitive rate of 17.9% APR, is designed to put students in control of their finances.

British holidaymakers will incur charges of £759 million by spending £16.4 billion on their credit and debit card purchases and withdrawing more than £6.6 billion in cash whilst overseas this year, according to research from price comparison and switching service uSwitch.com.

Lisa Taylor, analyst at Moneyfacts.co.uk, comments: “Most banks will offer you a student credit card, which in some cases will be a specific student card, while others will provide you with one of their standard cards.